Brookline Bancorp, Inc. (NASDAQ:BRKL) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) have received a consensus rating of “Moderate Buy” from the four research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $11.08.

A number of analysts have issued reports on the company. StockNews.com raised Brookline Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 25th. Piper Sandler reissued an “overweight” rating and issued a $12.00 target price on shares of Brookline Bancorp in a research report on Wednesday, March 27th. Finally, Keefe, Bruyette & Woods decreased their target price on Brookline Bancorp from $12.00 to $10.50 and set a “market perform” rating for the company in a research report on Friday.

Hedge Funds Weigh In On Brookline Bancorp

Several hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC grew its position in shares of Brookline Bancorp by 2,268.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,297 shares of the bank’s stock valued at $25,000 after purchasing an additional 2,200 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in Brookline Bancorp by 7.2% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 35,301 shares of the bank’s stock worth $322,000 after buying an additional 2,373 shares in the last quarter. GAMMA Investing LLC purchased a new position in Brookline Bancorp during the fourth quarter worth about $34,000. Swiss National Bank grew its position in Brookline Bancorp by 1.7% during the third quarter. Swiss National Bank now owns 195,600 shares of the bank’s stock worth $1,782,000 after buying an additional 3,300 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Brookline Bancorp by 13.4% during the fourth quarter. Victory Capital Management Inc. now owns 28,542 shares of the bank’s stock worth $311,000 after buying an additional 3,363 shares in the last quarter. 78.91% of the stock is currently owned by hedge funds and other institutional investors.

Brookline Bancorp Stock Performance

Shares of Brookline Bancorp stock opened at $8.34 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 1.11 and a debt-to-equity ratio of 1.14. The business’s fifty day simple moving average is $9.51 and its 200 day simple moving average is $9.79. Brookline Bancorp has a 12 month low of $7.00 and a 12 month high of $11.52. The firm has a market capitalization of $747.68 million, a P/E ratio of 8.96 and a beta of 0.75.

Brookline Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 6.47%. The ex-dividend date of this dividend is Thursday, May 9th. Brookline Bancorp’s dividend payout ratio (DPR) is presently 58.07%.

Brookline Bancorp Company Profile

Brookline Bancorp, Inc operates as a bank holding company for the Brookline Bank that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include demand checking, NOW, money market, and savings accounts. The company's loan portfolio primarily comprises first mortgage loans secured by commercial, multi-family, and residential real estate properties; loans to business entities comprising commercial lines of credit; loans to condominium associations; loans and leases used to finance equipment for small businesses; financing for construction and development projects; and home equity and other consumer loans.